Budgeting Methods
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The
50
/
30
/
20
Rule
Segregate your needs, wants and saving
50% of the after-tax income goes into “needs”, 30% into “wants”, and 20% into saving
Zero Budgeting
Give a purpose to every cent you earn
Income minus expenses must be equal to zero
Categorise your expenses and allocate money
Pay-Yourself-First
Budgeting
Savings first, and then the rest
Set aside money for your financial objective
Needn't track every cent that you own
Values-Based
Budgeting
Spend your money on what you “value” in life
Cut down on what you “don’t value” in life
Cash
Envelope
Budgeting
Keep portions of money for every sort of expenses
Makes it easier to track how you spend money
"How to Make a Budget Plan"
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